It may seem like an odd time to think about starting a new business however there are many people using the pandemic as a catalyst for starting new businesses. Many people have lost their jobs in this pandemic and many more are reassessing their priorities. A substantial number of people now hoping to start their own businesses or build on their already exisiting side hustles. Let’s take a look at the top skills required to succeed as an entrepreneur.
A Passion for Learning
In business, as in life, we never stop learning. As entrepreneurs, you need to ensure you are up to date on the latest innovations in your space. You need to be aware of your competitors, regulatory changes and changes in consumer habits. Attend seminars, join networking groups and make sure you’re cultivating the relevant connections in your space.
You will also want to ensure you are building on other skills to help develop your business. You may want to to learn more about social media management, SEO, basic IT skills. These are especially important if you are starting out on your own. There are myriad courses available for beginners , so you can build these skills at your own pace.
Entrepreneurship is very often about thinking outside the box. As an entrepreneur , you must be ready to try things that others have tried and failed at. You must also be ready to try things that others say ‘can’t be done’. See below on how to improve your creative thinking.
- Do the opposite of what others in your field are doing. This may lead to different results but can be be a risk worth taking.
- Be ready to pivot.Making decisions today on a particular issue does not mean you should not be ready to change when circumstances change.
- Listen out for new ideas. Connect with others in your space, read and listen to podcasts. Keep your creative juices flowing by keeping up with the trends and new ideas.
- Try ‘brain games’ to get your creative juices flowing. Playing games like Brain Wars can help with your critical thinking anf problem solving skills.
Being Comfortable With Failure
You need to be ready and comfortable with failure. Very few entrepreneurs get things right first time. In fact many of their successes come from learning from their initial mistakes. Sara Blakely, the founder of Spanx , attributes much of her success to failure. Learn from failure and move on.
You should learn how to plan and schedule your tasks. This is especially important if you a starting a side hustle and maintaining your 9-5 job whilst you build the business. Time management will also help you deal with procrastination when you are having issues making key decisions.
Social Media Management
Social media managment skills are key for an entrepreneur now. It is useful for engaging with your potential clients and helping you make connections withing your industry. It is important that you establish a good social media strategy, using platforms that will enhance your place in the industry. You may decide to hire a social media manager when the business is a little more mature and you can afford the outlay. However as your business grows these are skills you should develop yourself. There are many social media courses available online to help you in that space.
As well as being to effecively communicate with employees or business partners, you must develope great active listening skills. Effective communication can also help transform how you promote the brand. Being able to effectively deliver key messages to your target client base through emails, newsletters and social media is a key component of your communication strategy.
This is not an exhaustive list of skills and obviously you may need to build on them , depending on your individual skillset and personality. However if you are hoping to start a business, think about how you can start to build on these.We would love to hear your stories. Drop a comment below on your business startup stories!